NADA and Cargurus.com recently released it study earlier this month, reporting that if you are looking for a used car in Northeast Ohio, you are getting one at the lowest cost in the country. According to their study, used cars in Cleveland, Ohio, cost on average nearly 6 percent less than the national average. Used cars in Akron, Ohio, cost 4 percent less than the national average. Many other Great Lakes Cities, such as Buffalo, NY, Detroit, MI and Toledo, Ohio, also made the list of least expensive cities to buy a new car.
Kelley Blue Book’s 5-Year Cost to Own Award accounts for nearly all expenses of car ownership, including depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees for new models. The awards exist to help shoppers make more informed new-car buying decisions by breaking down typical ownership cost details and naming the brands and models with the lower projected five-year total.